Masimo responds to Politan’s nominations, ‘refutes Politan’s false claims’

“Masimo confirmed that Politan Capital Management has provided notice of its intent to nominate two candidates to stand for election to the Masimo Board of Directors at the company’s 2024 Annual Meeting. While Masimo respects and values the input and ideas of all its stockholders and respects their right to nominate and elect the directors of their choice, the Company believes that Politan’s efforts to take control of the Board and unseat the Company’s Chairman and CEO, Joe Kiani, run counter to stockholders’ best interests, as well as those of the hundreds of millions of patients who rely on Masimo’s innovations. When Politan’s Managing Partner, Quentin Koffey, and its nominee, Michelle Brennan, were elected to the Board last year, Mr. Koffey claimed to be seeking a minority voice on the Board from which to offer input and direction. Yet Mr. Koffey has always been intent on taking control. While Mr. Koffey continues to suggest he desires an “independent” board, it appears from his continued attacks and misleading claims, including in Politan’s recent press release, that what he really seeks is a Board that agrees with him. Until it does, he will continue to claim the Board is not independent, despite the fact that two-thirds of the Board members are independent directors appointed in the last nine months. Masimo stockholders and the hundreds of millions of people who depend on Masimo innovation cannot afford the destructive and chaotic path that Mr. Koffey continues to pursue, even as the Company endeavors to separate its consumer business…,” noted Masimo in its response.